WeMo announced today that it will begin paying annual dividends next year. The first dividend will be 50.12 a share. The following dividends will be $0.15, 50.20, 50.50, and $0.80 a share annually for the next 4 years, respectively. After that, dividends are projected to increase by 3 percent per year. How much are you willing to pay to buy one share of this stock today if your desired rate of return is 8.5 percent